NOV. 17, 2020
In this episode of Duke of Digital, podcast host and AdvertiseMint CEO Brian Meert is joined by Christian Sierra, digital marketing manager at AdvertiseMint, to discuss Black Friday strategies, including targeting the right audience, crafting an effective offer, and anticipating high advertising costs.
Who to Target
With several years of marketing experience and a Facebook Blueprint certification under his belt, Sierra has a few helpful tips in store for advertisers. He begins the conversation with insight into the ideal target audience for Black Friday ads. According to Sierra, advertisers must place 90 percent of their attention on customers in the middle and bottom of the sales funnel. These are customers who have interacted with a business in the past, whether that’s initiating a check out, visiting a website, or interacting with the business’ social media pages.
When serving ads to high-interest customers, Sierra says advertisers should prepare those audiences for the upcoming Black Friday sale. To do so, he recommends encouraging audiences to register for newsletters so that they may be notified when the first deals drop.
How to Craft Black Friday Deals
According to Sierra, to run successful Black Friday campaigns, advertisers must create explicit, competitive, and attractive offers.
“We’re all looking for the biggest deals. If it’s not over the numbers of 20 percent, people aren’t even looking. They’ll look for the next one. Give them a compelling offer.”
Advertisers should offer the most significant deal of the year, since consumers are expecting irresistible offers during this time.
In addition to offering the best deals, instilling a sense of scarcity is also an effective tactic — a product is more attractive to customers when they believe it to be in limited supply.
Of course, offering the biggest sale of the year could result in revenue loss. However, with those losses come new customers for the new year and an increase in customer lifetime value.
Black Friday Advertising Costs
Because Black Friday is a popular day to sell, a day when many businesses are serving ads to Facebook’s platform, advertisers should expect costs to rise at this time. For this reason, it’s important to target warm audiences. Cold audiences are not likely to purchase from a business they’re unfamiliar with. If targeting cold audiences is a necessity, separating cold audiences form warm audiences and allocating more of the budget to the latter group is an effective tactic.
Sierra reveals more of his Black Friday tips, including creating the most effective campaign structure, setting the right bid caps, allocating the correct budget amount, and fixing under-performing ads. To learn more about these tips, listen to the eighth episode of Duke of Digital.
By Anne Felicitas, editor